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Gold prices set for weekly gain on smaller U.S. rate-hike bets - RollingNotes' News

Gold

Gold prices set for weekly gain on smaller U.S. rate-hike bets

Atlanta Federal Reserve Bank president Raphael Bostic said on Thursday that the inflation data may allow the Fed to scale back to quarter-point rate hikes at its upcoming meeting. Gold is seen as an inflation hedge, but higher interest rates increase the opportunity cost of holding the asset.

Jan 13, 2023 - 08:40

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Gold prices set for weekly gain on smaller U.S. rate-hike bets

Atlanta Federal Reserve Bank president Raphael Bostic said on Thursday that the inflation data may allow the Fed to scale back to quarter-point rate hikes at its upcoming meeting. Gold is seen as an inflation hedge, but higher interest rates increase the opportunity cost of holding the asset.